Phoenix real estate investment market picks up after slow start

AZRE

The Greater Phoenix real estate investment market started the year slow, but reversed course during second quarter. The most recent three months posted more property sales, higher prices and compressed cap rates, according to a report released by Colliers International in Greater Phoenix.

Sales of shopping centers recorded one of the most dramatic increases during second quarter, spiking more than 50 percent over the first three months. Median prices of shopping centers rose 20 percent in the second quarter compared to first and the greatest increase in transactions took place in $10 million+ properties.

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